SOURCE: Cascade Energy, Inc.

August 08, 2005 08:30 ET

Cascade Energy Calculates 10.5 Bcf Gas in New Empress Project Reservoir

SACRAMENTO, CA -- (MARKET WIRE) -- August 8, 2005 -- Cascade Energy, Inc. (OTC BB: CSCE) today is pleased to announce that the new "11-16" well and 640 acre lands under Section 16 have been calculated to have the potential to contain 10.5 Bcf gas by a third-party reservoir engineer.

The reserve estimate is based on 31.0 feet of net pay under 640 acres of the sands. The productive gas formation is the Detridal sands, calculated to contain reserves in the order of 9 Bcf, with an additional 1.5 Bcf from the Banff Limestone. The "11-16" well was successfully completed in the Detridal sands and is being put into commercial production. Third party engineers have reported that the well is projected to produce 500 to 600 Mcf gas per day as a stable production rate.

Cascade and partners are now investigating different low cost, pipeline tie-in options for the well. The closest connection to existing infrastructure is only one mile from the well and the tie-in should be achieved quickly.

As announced on August 5, the Company is preparing to drill the "12-15"well at the Empress Project, located in eastern Alberta, 160 miles east of Calgary. The well is planned for spud in approximately one week, as a drilling rig is available in the area. The "12-15" is an offset well located one full section (640 acres) to the east of the new discovery "11-16" well.


Cascade is an explorer for natural gas and oil with a head office in Sacramento, California in the heart of California's gas country. The primary objective of Cascade is to acquire, discover, upgrade and expand North American onshore oil and gas reserves towards near-term production and cash flow, together with identifying and participating in exploration opportunities. By maintaining a balanced debt and equity mix, Cascade's operating strategy is to become cash flow positive in the short term to allow the Company a re-investment of production dollars to enhance and grow company assets. By searching and identifying exploration and producing properties that fit the company's investment and production criteria, Cascade has formulated a strategy to prioritize assets that provide low risk, short payback period and long life reserves.

Safe harbor for Forward-Looking Statements:

Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Cascade Energy Inc. has little or no control.


Cascade Energy, Inc.

Sam Johal-President

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